Does that mean that two people can be insured at the same bank up to $1,000,000?
Yes. If two people each have a single account, they’ll each be covered for up to $250,000. Then, if they have a joint account together, they’ll each be covered for up to $250,000 (or up to $500,000 combined coverage), which adds up to a total of $1,000,000 in combined FDIC insurance coverage for the two people.
Related Questions
- Does that mean that people and businesses must go the bank and exchange their money before buying a foreign product through the mail or online?
- Does that mean that two people can be insured at the same bank for more than $100,000?
- Does that mean that two people can be insured at the same bank up to $1,000,000?
